RE: RE:RE: Over in OZ - Juicy curveball RNS21 Sep 2020 08:37
I'm sure there is a plan, but I'm with Seedcorn insomuch as there will now absolutely need to be a further CR to help find Warrawoona development. Putting a $20m hole in our cash reserves, when you need around 30% of $116m construction costs is a big move.
Hopefully with this, Otway's results and DFS, our base price will rise enough to offset the dilution of a new raise.
I assume this was a time sensitive deal, otherwise I question why we'd do it before financially securing the development at Warrawoona.